Market Research Report
Building-integrated Photovoltaic Market Size, Share & Trends Analysis Report By End Use (Residential, Industrial), By Application (Roofs, Glass), By Technology (Thin Film, C-Si), By Region, And Segment Forecasts, 2020
|Published by||Grand View Research, Inc.||Product code||959606|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|Building-integrated Photovoltaic Market Size, Share & Trends Analysis Report By End Use (Residential, Industrial), By Application (Roofs, Glass), By Technology (Thin Film, C-Si), By Region, And Segment Forecasts, 2020|
|Published: August 17, 2020||Content info: 90 Pages||
Market Growth & Trends
The global building-integrated photovoltaic market size is expected to reach USD 56.2 billion by 2027 registering a CAGR of 23.1% over the forecast period, according to a new report by Grand View Research, Inc. Favorable government policies and guidelines regarding enhanced renewable installations are projected to strengthen the building-integrated photovoltaic (BIPV) market growth over the forecast period.
Building-integrated photovoltaics offer an effective and sustainable solution for retrofitting structure exterior while providing an aesthetic appeal to the building. It improves the building energy efficiency by offering significant savings on conventional electricity consumption. In addition, the rising awareness about green infrastructure is expected to contribute to market growth.
High initial investment along with the intermittent nature of renewable solar energy is among the primary factors negatively influencing the industry landscape. However, significant funding boosting the R&D efforts aimed at reducing the overall costs of BIPVs and providing technological advancements in newly manufactured modules is expected to drive the industry growth over the forecast period.
Industry participants have undertaken strategic initiatives, such as new product development and M&A, to enhance their global presence and meet the rising demand for customized BIPVs across various commercial establishments. Market players are focusing on local manufacturing of BIPV equipment to optimize logistics costs, minimize emissions, and offer local employment.